Van Eck Global - Since 1955

Long/Short Equity FundLSNIX

  • Daily Price   as of 08/29/2014

    NAV DAILY CHANGE
    $9.24  $0.02 / +0.2%
  • Class I Details: LSNIX

    INCEPTION DATE GROSS/NET EXPENSES1
    12/12/2013 1.14%/0.84%
  • Fund Summary & Key Points

    The Van Eck Long/Short Equity Fund seeks total return. The Fund will pursue its objective by maintaining long and short positions in exchange-traded products that, in the aggregate, are expected to track the performance of a group of long/short equity hedge funds. This group of long/short equity hedge funds is created by identifying a universe of North American focused long/short equity hedge funds and then eliminating outlier hedge funds from that universe by applying our True Alpha (True α) patented metric. We believe this systematic investment process will permit the Fund to realize consistent total returns while experiencing lower volatility than most other registered investment companies that employ a long/short equity strategy.

    • Seeks Consistent Risk/Return Characteristics
    • Quantitative Expertise and Repeatable Systematic Process

  • Long/Short Equity Investment Team

    Long/Short Equity Team

    Portfolio Manager, Marc Freed, with Deputy Portfolio Manager Ben McMillan

    Photo L to R

    Marc FreedBen McMillan

  • Fund Details 
    as of 07/31/14

    • Net Assets (All Classes)
      $4.4M
    • Benchmark Indices
      HRFI Equity Hedge Index

      Market Vectors North America Long/Short Equity Index

  • Performance History: Average Annual Total Returns (%) 

    1 MO*3 MO*YTD*1 YR3 YR5 YR10 YRLIFE
    (12/12/13)
    Van Eck Long/Short Equity Fund: Class I
    At Net Asset Value-1.531.23-0.77--------1.80
    HRFI Equity Hedge Index2-1.55-0.11-0.30----------
    Market Vectors North America Long/Short Equity Index-1.511.35-0.35----------
    1 MO*3 MO*YTD*1 YR3 YR5 YR10 YRLIFE
    (12/12/13)
    Van Eck Long/Short Equity Fund: Class I
    At Net Asset Value1.891.550.77--------3.38
    HRFI Equity Hedge Index21.13-0.420.83----------
    Market Vectors NA L/S Equity Hedge Fund Beta Index21.991.801.17----------

    *Returns less than one year are not annualized.

    The table presents past performance which is no guarantee of future results and which may be lower or higher than current performance. Returns reflect temporary contractual fee waivers and/or expense reimbursements. Had the Fund incurred all expenses and fees, investment returns would have been reduced. Expenses: Class I: Gross 1.14% and Net 0.84%. Expenses are capped contractually through 05/01/15 at 0.65% for Class I. Investment returns and Fund share values will fluctuate so that investors' shares, when redeemed, may be worth more or less than their original cost. Fund returns assume that dividends and capital gains distributions have been reinvested in the Fund at NAV.

  • Current Allocations (%) 

    FUND LONG/SHORT WEIGHT (%)
    U.S. Equities Long 42.8
    U.S. Treasury Bills Long 41.4
    U.S. Small Cap Growth Equities Long 15.1
    U.S. Small Cap Value Equities Long 4.6
    Consumer Staples Sector Equities Short -9.6
    FUND LONG/SHORT WEIGHT (%)
    U.S. Equities Long 43.2
    Consumer Staples Sector Equities Short -9.7
    U.S. Small Cap Equities Long 19.2
    U.S. Treasury Bills Long 34.0
    Cash -- 13.3

    These are not recommendations to buy or sell any security. Fund allocation excludes cash.

  • Important Disclosure 

    Unless otherwise stated, portfolio facts and statistics are shown for Class A shares; other classes may have different characteristics. 

    NAV: Unless you are eligible for a waiver, the public offering price you pay when you buy Class A shares of the Fund is the Net Asset Value (NAV) of the shares plus an initial sales charge. The initial sales charge varies depending upon the size of your purchase. No sales charge is imposed where Class A shares are issued to you pursuant to the automatic investment of income dividends or capital gains distribution. It is the responsibility of the financial intermediary to ensure that the investor obtains the proper “breakpoint” discount. Class I and Class Y do not have an initial sales charge. See the prospectus for more information.

    1Other expenses and acquired fund fees and expenses are based on estimated amounts for the current fiscal year. Van Eck Associates Corporation (the “Adviser”) has agreed to waive fees and/or pay Fund expenses to the extent necessary to prevent the operating expenses of the Fund (excluding acquired fund fees and expenses, interest expense, trading expenses, dividends and interest payments on securities sold short, taxes and extraordinary expenses) from exceeding 0.95% for Class A, 0.65% for Class I, and 0.70% for Class Y of the Fund’s average daily net assets per year until May 1, 2015. During such time, the expense limitation is expected to continue until the Board of Trustees acts to discontinue all or a portion of such expense limitation.

    2The Market Vectors North America Long/Short Equity Index seeks to capture the systematic returns (beta) of North American focused long/short equity hedge funds. The index employs a patented rating and ranking system that filters out funds with low beta as compared to their hedge fund peer group. The index is constructed using transparent, liquid ETFs to produce hedge fund-style returns. The HRFI Equity Hedge Index, also known as long/short equity, combines core long holdings of equities with short sales of stock or stock index options. Equity hedge portfolios may be anywhere from net long to net short depending on market conditions.

    All indices are unmanaged and include the reinvestment of all dividends, but do not reflect the payment of transaction costs, advisory fees, or expenses that are associated with an investment in the Fund. An index’s performance is not illustrative of the Fund’s performance. Indices are not securities in which investments can be made.

    The views and opinions expressed are those of Van Eck Global. Fund manager commentaries are general in nature and should not be construed as investment advice. Opinions are subject to change with market conditions. Any discussion of specific securities mentioned in the commentaries is neither an offer to sell nor a solicitation to buy these securities. Fund holdings will vary.

    You can lose money by investing in the Fund. Any investment in the Fund should be part of an overall investment program rather than a complete program. All mutual funds are subject to market risk, including possible loss of principal. Because the Fund is "fund-of-funds," an investor will indirectly bear the principal risks of the exchange-traded products in which it invests, including but not limited to, risks associated with smaller companies, foreign securities, emerging markets, debt securities, commodities, and derivatives. With respect to derivatives, the use of leverage may magnify losses. The Fund will bear its share of the fees and expenses of the exchange-traded products. Consequently, an investment in the Fund entails more direct and indirect expenses than a direct investment in an exchange-traded product. Because the Fund invests in exchange-traded products, it is subject to additional risks that do not apply to conventional mutual funds, including the risks that the market price of an exchange-traded product's shares may be higher or lower than the value of its underlying assets, there may be a lack of liquidity in the shares of the exchange-traded product, or trading may be halted by the exchange on which they trade. Debt securities may be subject to credit risk and interest rate risk. Investments in debt securities typically decrease in value when interest rates rise. The Fund may actively engage in short selling, which entails special risks. If the Fund makes short sales in securities that increase in value, the fund will lose value. Because the Adviser relies heavily on proprietary quantitative models, the Fund is also subject to Model and Data Risk. For a description of these and other risk considerations, please refer to the Fund’s prospectus, which should be read carefully before you invest.

    Investing involves risk, including possible loss of principal. An investor should consider investment objectives, risks, charges, and expenses of the investment company carefully before investing. The prospectus and summary prospectus contain this and other information. Please read them carefully before investing.  

    Not FDIC Insured — No Bank Guarantee — May Lose Value 

    Van Eck Securities Corporation, Distributor
    335 Madison Avenue, 19th Floor
    New York, NY 10017
    800.826.2333